Spectrum Automotive (Cornell Capital) Acquires C.A.R.S. Protection Plus from Summit Park

PureCars Acquires AutoSigma

August 9, 2022

Marketing & Advertising

PureCars, a provider of digital marketing technology for automotive dealers, has acquired AutoSigma, a digital asset management platform that automates creation and syndication of vehicle advertising assets. The deal — executed by PureCars (which is backed by Diversis Capital Partners and Stage 1 Ventures) — is an add-on to expand PureCars' MarTech capabilities and speed dealers' time-to-market for OEM-compliant advertising.

Ares Management Acquires Capital Automotive (CARS) from Brookfield for $3.8 Billion

February 8, 2022

Real Estate

Funds managed by Ares Management Corporation's Alternative Credit strategy and Real Estate Group acquired Capital Automotive LLC (CARS) from a Brookfield private real estate fund for $3.8 billion. CARS, headquartered in McLean, Virginia, owns a portfolio of more than 250 net-lease automotive dealership properties across the U.S. and Canada; the acquisition expands Ares' net-lease capabilities and increases its net lease gross asset value to more than $7 billion over the prior 15 months.

Spectrum Automotive (Cornell Capital-backed) Acquires CalTex Protective Coatings

December 16, 2020

Automotive

Spectrum Automotive Holdings Corp., a Cornell Capital-backed automotive F&I platform, acquired CalTex Protective Coatings, the largest U.S. manufacturer and provider of automotive appearance protection products. The acquisition will allow Spectrum to invest behind CalTex's brand, products and management to accelerate growth and expand its dealer distribution and F&I product suite. Terms were not disclosed; Colonnade Advisors served as financial advisor to CalTex and Houlihan Lokey advised Spectrum.

Cornell Capital Acquires Spectrum Automotive Holdings Corp.

October 11, 2019

Insurance

Cornell Capital LLC has acquired Spectrum Automotive Holdings Corp. from Southfield Capital; terms were not disclosed. Spectrum, headquartered in Fairfield, New Jersey, is an agent, marketer and administrator of finance and insurance (F&I) products serving more than 1,400 dealers, OEMs and administrators across the U.S. Southfield Capital had owned Spectrum since 2015 and the management team will remain as significant shareholders alongside Cornell Capital.

Primeritus Financial Services Acquires Consolidated Asset Recovery Systems (CARS)

April 3, 2019

Cloud & SaaS

Primeritus Financial Services, a portfolio company of Kinderhook Industries, has acquired Consolidated Asset Recovery Systems (CARS), a Raleigh-based provider of SaaS technology and recovery/remarketing services to the auto finance industry. The deal is an add-on to the Primeritus platform (its 7th add-on) and was completed from Greenridge Investment Partners and CARS management; financial terms were not disclosed.

Crestview Partners Acquires Protect My Car

September 6, 2018

Insurance

Funds managed by Crestview Partners, together with members of Protect My Car's management team, completed the acquisition of Protect My Car from a private investor group. Craig Rubino will remain CEO and join the company's board; financial terms were not disclosed. The deal positions Crestview to scale Protect My Car’s vehicle service contract and extended-warranty business.